📊#BTC Potential Trading Opportunities🔥
🧠We've been trading sideways for quite some time, and selling pressure has largely been exhausted, so we need to find support to enter a long trade.
➡️From a structural perspective, there's a chance for a bullish head-and-shoulders pattern to form. If this pattern holds, we could see a move above $120,000 or even higher.
Potential support is likely between $116,300 and $117,000.
Short-term resistance is around $120,000.
⚠️Note: A break below L1 would destabilize the structure and significantly reduce bullish expectations.
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BTCUSDT.P
🧠We've been trading sideways for quite some time, and selling pressure has largely been exhausted, so we need to find support to enter a long trade.
➡️From a structural perspective, there's a chance for a bullish head-and-shoulders pattern to form. If this pattern holds, we could see a move above $120,000 or even higher.
Potential support is likely between $116,300 and $117,000.
Short-term resistance is around $120,000.
⚠️Note: A break below L1 would destabilize the structure and significantly reduce bullish expectations.
🤜If you like my analysis, please like 💖 and share 💬
BTCUSDT.P Trade closed manually
#BTC Update
We broke directly below both L1 and L2, signaling the emergence of a bearish structure in the 1-hour and 4-hour charts, so we should be wary of a further pullback.
After breaking below L2 again, we added a long order of the same size, and therefore exited the long position near our cost price after the rebound.
If we can break through the blue turning point of 116,000, we have the potential for a further rebound. If the price can reclaim above 118,000 next Monday, we have a chance to continue the bullish trend. Otherwise, we should be wary of the risk of a further pullback. We should keep an eye on the next support level around 111,500.
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🔥🔥Use the invitation link to register and trade, and you can join the spot VIP club for free.🔥🔥
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
partner.niftah.cn/bg/wolfking20
👇BYBIT 👇
partner.bybit.com/b/wolfking
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
partner.niftah.cn/bg/wolfking20
👇BYBIT 👇
partner.bybit.com/b/wolfking
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.